Ethereum Reaches a Fate-Determining Level as Analysts Watch for Volatility

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Ethereum’s price action has been closely tracking that of Bitcoin in recent weeks, causing it to see a choppy bout of sideways trading The lack of any real trend in recent weeks has made ETH’s mid-term outlook somewhat unclear That being said, the crypto may now be trading at a pivotal level that determines its near-term outlook One analyst is noting that the price at which it is currently trading has historical significance, and its reaction to its support could determine whether it rallies to $390 or dives to $280 Ethereum and the aggregated cryptocurrency market have been offering investors little insight into the state of the market. Most altcoins have been primarily caught within bouts of sideways trading or slight downtrends. Bitcoin has been contributing to this market-wide uncertainty, as its price has been caught between $10,200 and $11,200 for the past few weeks. Until BTC breaks out of…

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